Third Party Logistics 1473.28 Million Dollar Industry by 2025

“Do what you do the Best, Outsource the Rest” - Peter F. Drucker 

I planned to start my own venture. I have been a marketing professional since my start of career, I have done tons of research before venturing into the fields which were unknown to me. But soon I found myself flooded with so much information to grasp, and I had no time left to execute my learning.

I realized that outsourcing the same task to someone  who is an expert in their field would be more effective and efficient. 

The above synopsis is true with respect to many industries. One such industry is Indian Warehouse Industry / Indian Logistics Industry

The Warehousing market in India is going through a makeover. While this makeover is demanding for change from the Old players at the same time it's providing a platform to the new players. 

Becoming a part of the industry is easy but surviving the inevitable is gruelling. Here 3PL Providers come as a relief to these new players, in the warehousing industry.

Many of you might have questions like :

• What is 3PL industry ?
• How does this help the Warehousing Industry in India ?
• What all does a 3PL Providers does ?
• How to select the best 3PL service providers ?

Here following might be able to help you with query

Third Party Logistics is A 3PL logistics provider provides outsourced logistics services or sometimes all of their supply chain management functions like Inventory, Packaging, Shipping, etc.

Warehousing market is expanding, which is creating high demand into the market, the demand is beyond the ability to manage. 

Some companies might face issues with inventory management other might face issues with logistics and other investments.

Not every player is in capacity to perform all functions, on their own.

3PL Warehousing service providers come as a rescue to such companies by providing them facilities like Storage/Inventory;Logistics; Packaging; Shipping under one roof.

According to research reports, the Third Party Logistics Market was valued at USD 861 Million in 2017 and is projected to reach USD 1473.28 Million by 2025, growing at a CAGR of 7.0% from 2018 to 2025.

There are many players in this segment, but how to know which one is the right fit for you.

“Remember best may not be Right for you.” 

Following are the parameters on the basis of which you can identify which 3PL Provider would be the right fit for you.

• Location - how many regions does that location caters to, how easy it is to access the location via all means of logistics
• Price - how much is it costing you
• Packaging - do you need custom packaging and do they provide the same
• Scalability - how many facilities does that 3PL has and does they fit with your Growth Plan 

Working with 3PL provider is a long term association, both team needs to work towards a common goal to satisfy the customer.